July 15, 2013 – Tyler, TX - BBB Serving Central East Texas invites you to “Movie Night with BBB – “Tricks of the Trade OUTSMARTING Investment Fraud”. on Tuesday, August 13, 2013 from 6:30 p.m. until 8:30 p.m. at Times Square Cinema. At this free community event, BBB one hour documentary presentation entitled “Tricks of the Trade OUTSMARTING Investment Fraud”. The documentary will inform on common features of scams, investment fraud risk factors, tactics, and overall investment fraud prevention. All movie-goers will receive popcorn and a drink and will be eligible for door prizes.

Investors lose millions every year to risky investments and fraudulent scams, and the problem is getting worse as more people manage their own retirement savings. BBB has partnered with the FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, to help combat investment fraud and through the BBB Smart Investing program.

“In a recent FINRA study, 20% of those surveyed reported being misled or defrauded, but 80% of those same people did not report the fraud”, said Olga Mondragon, Director of Investigative Services for BBB Serving Central East Texas. “We’d like to help change this statistic.”

BBB encourages consumers to be aware of some common key risk factors for financial investment fraud:

Owning high-risk investments Demonstrates tolerance for risk. Fraudsters look for this in deciding who to target.

Relying on friends, family, co-workers for advice 1/3 of the national sample – but 70% of victims – made an investment based on advice from relative or friend

Being open to new investment information Three times as many victims went to a free investment seminar than the national sample

Failing to check background and registration of professional or product 80% didn’t check professional for previous law violations; most didn’t check registration of professional (70%) or product (65%)

Inability to spot persuasion tactics used by con men 46% state hearing an accreditation specific to senior financial issues would make them more likely to listen to the professional’s advice